IMF Spending Cuts Better Than Tax Increases

thebman

A video from the IMF website using past experience to say that tax increases hurt more than spending decreases but both are negative (unfortunately we have no choice).


Also explains why this is going to be particularly negative for us at the moment as many countries have to do the same thing at the same time which limits the boost you would normally expect on exports.

http://www.imf.org/external/mmedia/view.aspx?vid=621060228001

I think the video perfectly demonstrates the horrible situation we find ourselves and while we should be angry, it must also be kept in mind there is little else we can do at the moment but set things right and hope for the best then show the government what we think of their populist policies rather than sensible policies come next election and urge the opposition to speak out stronger in future and be stronger against unsustainable economic policy.

We must send the message that Irish people want stable, achievable growth not mindless, dangerous, unsustainable economic bubbles in certain sectors. We must also send the message that we want sustainable public finances and balanced budgets.

Anything short of the above will mean we will be doomed to repeat the past IMO and in about 10-20 years, we'll see people trying to march down streets over the same issues rather than sending a clear, coherent message to the political parties in the state through more acceptable communication mechanisms such as email/meeting with them to rationally discuss the issues we face.

dunsandin

I agree with what you say, but I find it very easy to ignore/delete emails and give lads the red button on the phone. Not quite as easy to ignore the pitchfork wielding mob on my lawn, so I'm never starting another pyramid scheme again, ever...no matter what. Joking, only joking.

thebman

The thing is the people in the streets are easily cast aside as lunatics and people that are angry in the moment. If you approach politicians in a more rational (I don't want to kill you :P) way, they are much more likely to listen.

ei.sdraob

thebman wrote: »

The thing is the people in the streets are easily cast aside as lunatics and people that are angry in the moment. If you approach politicians in a more rational (I don't want to kill you :P) way, they are much more likely to listen.

I dont know politicians here in Galway are the likes of Frank Fahey... rational is not something he is

https://www.youtube.com/watch?v=azRK-UmGMJ0

murphaph

ei.sdraob wrote: »

I dont know politicians here in Galway are the likes of Frank Fahey... rational is not something he is

But are the Irish electorate actually rational themselves? We elect people like 40 gaffs.

We should, if we had any sense at all, be contacting our opposition TDs right now, telling them that we want stable, sensible economic policies going forward. BUT most people do not actually want this IMO...they just want their house to back up to €400k again as quickly as possible. Ireland is mostly fcuked because if the Irish.